Rayonier Inc. (NYSE:RYN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, November 6th. The brokerage currently has a $35.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.75% from the company’s previous close.
According to Zacks, “Rayonier reported better-than-expected pro forma net income per share for third-quarter 2017. Results also highlight solid improvement in its top-line performance. The company’s Pacific Northwest and New Zealand Timber segments registered robust year-over-year growth on account of greater harvest and favorable increase in sawtimber prices. Rayonier’s portfolio of timberland enjoys geographical diversity. It is likely to benefit from the recent developments in biogenetics & cloning that help in fast growth of trees. The company has upgraded its U.S. South and Pacific Northwest portfolio through strategic acquisitions and is likely to gain from the recovery in the country’s housing sector. Amid these, shares of Rayonier outperformed its industry over the past month. Encouragingly, in the past seven days, its 2017 earnings estimates have also moved up.”
A number of other research firms also recently weighed in on RYN. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 target price on shares of Rayonier in a report on Monday, July 31st. BMO Capital Markets reiterated a “hold” rating and set a $31.00 target price on shares of Rayonier in a report on Friday, September 29th. Finally, BidaskClub upgraded Rayonier from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.25.
Shares of Rayonier (NYSE RYN) traded up $0.07 during mid-day trading on Monday, reaching $31.32. The company’s stock had a trading volume of 436,836 shares, compared to its average volume of 580,392. Rayonier has a 52-week low of $26.07 and a 52-week high of $31.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.45 and a current ratio of 1.74. The company has a market capitalization of $4,038.15, a price-to-earnings ratio of 63.92, a P/E/G ratio of 11.65 and a beta of 0.36.
Rayonier (NYSE:RYN) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The business had revenue of $177.90 million during the quarter, compared to analyst estimates of $144.06 million. Rayonier had a return on equity of 3.89% and a net margin of 17.06%. Rayonier’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.33 EPS. equities analysts expect that Rayonier will post 0.54 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in shares of Rayonier by 22.0% during the 2nd quarter. Advisor Group Inc. now owns 3,566 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 642 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Rayonier by 88.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,324 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 2,024 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rayonier by 7.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,772 shares of the real estate investment trust’s stock valued at $137,000 after buying an additional 351 shares during the period. Enterprise Financial Services Corp bought a new position in Rayonier in the 2nd quarter worth $144,000. Finally, Creative Planning increased its stake in Rayonier by 36.2% in the 2nd quarter. Creative Planning now owns 5,326 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 1,417 shares in the last quarter. 82.83% of the stock is currently owned by hedge funds and other institutional investors.
Rayonier Company Profile
Rayonier Inc is a timberland real estate investment trust with assets located in some of the timber growing regions in the United States and New Zealand. The Company operates through five segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other activities, such as recreational leases, within each respective geography.
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